BUSTED! – Myth Of MBA Specialisations
YES, we are living in a myth that there are no other MBA specialisations except marketing, finance, operations, and HR and that the game is only about PGDM v/s MBA! Many MBA aspirants and students are still residing in the dark when it comes to choosing the specialisations. But the reality is that today we have many good options to go with such as retail management, financial services, international business, communications etc. If one chooses to do MBA in these dedicated fields, then it gives an opportunity to be more competent in one’s respective area of interest and from the very first day, one is made to learn and know every detail of the chosen specialisation whereas for other so called coveted specialisations such as marketing, finance, etc., one can learn only general concepts of MBA and it is only the next year when the main course is taught hence if anyone goes with the specialised courses, then it saves one’s time for growing the required knowledge and it allows preparing better and earlier for acquiring the skills pertaining to that specialisation.
Secondly, people have a misconception regarding the scope of these specialisations, salary prospects and growth opportunities. So let me clear the air that it depends on the passion, interest, and aptitude that can let anyone thrive in a given specialisation. For example, when it comes to retail management, people think that that it is only limited to supermarkets and shopping malls. But in reality, it is a much wider concept that includes automobile, showrooms, banking, insurance, healthcare, luxury stores, electronics, etc.. And it is because everything related to selling is centred around retail operations. Moreover, with the growing consumerism, companies with better retail strategies and experience will definitely have a larger share of the market. In addition to that, no job will give you return if you are bad at it and no job will pay you poorly if you are extremely good at it. In fact, there are many top colleges that do not have specific specialisation in functional roles also such as Marketing, HR, Finance, Operations. They just have electives that allow the students to choose multiple roles and in multiple industries. Hence, it is no more a necessity to do MBA only in traditional specialisations.
When it comes to sharing my experience, being the student of International Business at KJ SIMSR, I really feel blessed to be here, because Mumbai being the business capital, offers a host of opportunities, be it any specialisation, moreover, the kind of exposure that I receive makes the experience even better. One more thing that MBA aspirants should consider is that is it going to be easy to repay the money that you have invested in MBA. Yes, it can if you have pay heed to the return on investment while choosing any specialisation in a college, I also had similar doubts when I entered the college, now finding everything at the right place I feel contented and happy to be here.